HomeMy WebLinkAbout0123 secured hereby and all the obligations hereunder in such order as
M~rtgagee determines. The right to enter and take posaession of the
mortgaged property, to manaqe and operate the saine and to collect
the rente, issues and profits thereof, whether by receiver or other-
wise,shall be cumulative to any other right or remedy of the Mortgagee
hereunder or as afforded by law and may be exercised concurrently~
therewith and independently thereof. Mortgagee ahall be liable to
account only for such rents, issues and profits actually received by
Mortgagee.
4. If the Mortgagor shall default in the prompt payment,
performance or fulf illmeAt of any of the Mortgage Obligations hereunder
or of the terms and aonditions hereof or of the terms and conditions
of any other agreement between Mortgaqor and Mortqagee,or,if the
Mortgagor shall cease doing business or shall become insolvent or make
an assignment for the benefit of creditore,or if bankruptcy or insol-
vency proceedings or proceedings for arrangement or reorganization
or a receiver, trustee, liquidator or custodian for Mortgagor or of any
of Mortgagor's property shall be commenced by or against Mortgagor,
or if the Mortgagor shall fail punctually and faithfully to fulfill,
observe and perform any of the terms, conditions, promises, covenants,
provisions and warranties contained in tli.s Mortgage or any other agree-
ment or instrwaent between Mortgagor and Mortgagee,or if Mprtgagee, at
any time, deems the security afforded by this Mortgage unsafe, inadequate
o'r at any risk, then, at the option of Mortgagee, and in addi~tion to
any and all other rights of the Mortgagee, all Mortgage Obligations and
all other sums due Mortgagee from Mortgagor shall at once become immediate-
ly due and payable without notice to Mortgagor and it shall be lawful
for Mortgagee to take possession of the mortgaged property at any time,
wherever it may be and,to the extent permitted by law, to enter any
of the premises of Mc~rtgagor with or without process of law and search
for, take possession of, remove or keep and store the same in the said
premises without charge for storage until sold; and/or to foreclose
this mortgage and/or sell the mortgaged property or any part thereof
at public or private sale, without notice or advertisement, (except as
may be compelled by law, such notice or advertiaement in the absence
of such compulsion by law being expressly waived by Mortgagor), for
cash or on credit, on such terma as Mortgagee in its sole discretion
elect; Mortgagee may bid or become the purchaser at any such sale and ~
Mortgagor waives any and all"right of redemption from any such sale. ~
The proceeds of any sale shall be applied first to pay allaasts, expenses .
and charges for pursuing, searching, taking, removing, keeping, adver- {
~
tising and selling the mortgaged property, including, but not limited f
to, reasonable attorneys' fees, and second, to the payment partly or
~ entirely of any of the Mortgage Obligations as '''ortqagee may i.n it~
sole discretion elect, returning the overplus, if any, to Mortgagor
who shall remain liable to Mortgagee for any deficiency, and Mortgagor '
hereby irrevocably consents to the appointment of a receiver for the
mortgaged property and any and all other property of Mortgagor and
of the rents, issues and profits thereof; and such receivership may
c o ntinue after such sale until the full deficiency is satisfied in
full.
5: M~rtgagee may also, at any time, with or without exercising ;
any af the rights or remedies aforesaid and without prior notice or ~
c.emand to Mortgagor appropriate and apply toward the payment of the
Mortgage Obligations any and all balances, suma, property, credits,
deposits, accounts, reserves, collections, drafts, notes or checks
coming into Mortgagee's hands and belonging or owing to Mortqagor, ~
and for auch purposes, andorae the name of Mortgagor on any such
instrument made payable to Mortgagor, for deposit, discount or collection.
Such applications may be made or any monies paid to Mortgagee may be
applied, without notice to Mortgagor partly or entirely to any of the ~
Mortgage Obligations as M~rtgagee in its sole discretion may elect. }
6. If, after default by Mortgagor in the payment, perfornaance i
1 or fulfillment of any of the Mortgage Obl~g~t , I~ort~agee fails to ~
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